Chinese online payment platform Alipay.com Goes Global

MorningPost.com report that the Alibaba and the bank agreed to cooperate in e-payment and international business expansion and jointly boost small and midsize companies’ online financing and marketing.

Chinese online third-party payment platform Alipay.com Co., Ltd. Is exploring opportunities for globalization from the partnership between its parent company Alibaba Group and Bank of China.MorningPost.com report that the Alibaba and the bank agreed to cooperate in e-payment and international business expansion and jointly boost small and midsize companies’ online financing and marketing.
Supported by Bank of China, Alipay plans to facilitate foreign consumers’ shopping on China-based e-commerce websites from the third quarter of 2009, according to Alipay President Shao Xiaofeng.
Paying their own countries’ currencies, foreigners will be able to fetch Chinese-yuan-denominated commodities.
Alibaba has more than 1 million small and midsize corporate members in India, and many of them hope to purchase Chinese-yuan-denominated products with Indian Rupee, said the president Jack Ma.

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